Model N Drives Best Practices to Improve Healthcare Supply Chain Efficiency

▤ Summary

These new Model N Revenue Cloud for MedTech capabilities are designed in adherence with GS1 standards and comply with the latest Health Industry Distributors Association (HIDA) best practices recommendations. Because chargebacks lead to increased operational costs for providers, reducing pricing discrepancies has become a key issue for parties in the healthcare supply chain. Led by HIDA, the industry has initiated a broad-based effort to improve pricing accuracy and implement standardized contract communications protocols to achieve both cost-cutting and efficiency objectives. These enhancements will lead to better price transparency in the ecosystem thus helping improve topline and address operational inefficiency for manufacturers.” According to IDC research director, Michael Townsend, “Widespread adoption of the new global trade item number (GTIN) will allow manufacturers to have more accurate contracting and pricing in the short term, and in the long term, make life science supply chains less costly and more efficient to operate.” He continued, “the introduction of GTIN into the Model N medtech solution will help accelerate adoption of this important standard in the industry.” Model N is a leading provider of cloud revenue management solutions for life sciences and high tech companies. Driving mission-critical business processes such as pricing, quoting, contracting, regulatory compliance, rebates and incentives, our software helps companies know and grow their true top line and maximize every revenue moment at speed and scale.

▦ Linked Companies

Model N

$250M to $500M